Broward County Commission Regular Meeting


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AI-28048 60.       
Meeting Date: 12/04/2018  
Director's Name: Norman Foster
Department: Management & Budget  
Information
Requested Action
MOTION TO ADOPT budget Resolution No. 2018-554 transferring $3,698,747 from reserves within the General Fund for the purpose of fulfilling payments per the Interlocal Agreement with the City of Hollywood.

(Transferred to the Consent Agenda.)

ACTION:  (T-10:48 AM)  Approved.

VOTE: 9-0.
Why Action is Necessary
Pursuant to Florida Statutes Section 129.06(b), requires Board approval to appropriate funds from reserves.
What Action Accomplishes
Appropriates funding to execute payments per Interlocal Agreement between the County and the City of Hollywood.
Is this Action Goal Related
Previous Action Taken
Relates to Item No. 59 approved by the Board on 9/25/2018.
Summary Explanation/Background
On 9/25/2018, the Board approved an Interlocal Agreement between the County and the City of Hollywood. Under the agreement, the County shall pay to the City the amounts refunded by the CRA to the County during calendar years 2017 and 2018.

Budgeted funds are being moved from reserves to allow for all CRA payments, including this settlement, to be made by December 31, 2018. Reserves will be restored after County closes financial year Fiscal Year 2018 in the second supplemental budget of Fiscal Year 2019 in spring 2019.
Source of Additional Information
Norman Foster, Director, Office of Management and Budget, (954) 357-6346
Fiscal Impact
Fiscal Impact/Cost Summary:
This action appropriates $3,698,747 received from the Hollywood CRA as refunds to the County to be paid to the City of Hollywood per the Interlocal Agreement.
Attachments
Exhibit 1 - Budget Resolution

    

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